Agricultural credit act, 1973

• Act Number: 31
• Enactment Date: 24 December 1973

Number 31 of 1973
AGRICULTURAL CREDIT ACT, 1973
ARRANGEMENT OF SECTIONS
Section 1. Interpretation. 2. Amendment of section 3 of Act of 1965. 3. Amendment of section 4 of Act of 1965. 4. Amendment of sections 39 and 42 of Act of 1947. 5. Amendment of section 48 of Act of 1947. 6. Alteration of memorandum and articles of association of the Corporation. 7. Short title, construction and collective citation.
Acts Referred to Agricultural Credit Act, 1947 1947, No. 14 Agricultural Credit Act, 1965 1965, No. 12 Agricultural Credit Act, 1972 1972, No. 3
Number 31 of 1973
AGRICULTURAL CREDIT ACT, 1973
AN ACT TO AMEND AND EXTEND THE AGRICULTURAL CREDIT ACTS, 1927 TO 1972. [24th December, 1973]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
	Interpretation.	1.—In this Act—
	“the Act of 1947” means the Agricultural Credit Act, 1947 ;
	“the Act of 1965” means the Agricultural Credit Act, 1965 ;
	“the Act of 1972” means the Agricultural Credit Act, 1972 .
	Amendment of section 3 of Act of 1965.	2.—Section 3 (1) of the Act of 1965 (as amended by section 5 of the Act of 1972) is hereby amended by the substitution of “one hundred and twenty million pounds” for “seventy million pounds” and the said section 3 (1), as so amended, is set out in the Table to this section.
	TABLE
	3.—(1) The amount of money raised or borrowed by the Corporation under the Acts or this Act and outstanding at any one time shall not exceed one hundred and twenty million pounds.
	Amendment of section 4 of Act of 1965.	3.—Section 4 of the Act of 1965 (as amended by section 6 of the Act of 1972) is hereby amended by the substitution of “one hundred and twenty million pounds” for “seventy million pounds” and the said section 4, as so amended, is set out in the Table to this section.
	TABLE
	4.—The amount, or the aggregate amount, of principal which the Minister may at any one time be liable to pay on foot of any guarantee or guarantees under subsection (1) of section 5 of the Act of 1961 for the time being in force, together with the amount of principal (if any) which the Minister has previously paid on foot of any such guarantees and which has not been repaid by the Corporation shall not exceed one hundred and twenty million pounds and, accordingly, subsection (2) of that section shall be construed as if that sum were substituted for the sum mentioned therein.
	Amendment of sections 39 and 42 of Act of 1947.	4.—(1) Sections 39 (1) and 42 (1) of the Act of 1947 (as amended by section 6 of the Act of 1965) are hereby amended by the substitution of “ten thousand pounds” for “two thousand pounds” in each place where it occurs in those sections and the said sections 39 (1) and 42 (1), as so amended, are set out in the Table to this section.
	TABLE
	39.—(1) Where—
	(a) (i) a person is registered in a register of freeholders as full owner of land, and
	(ii) such land is registered subject to equities, and
	(iii) such person charges such land in favour of the Corporation with the repayment of a principal sum not exceeding ten thousand pounds and any interest, and
	(iv) such charge is duly registered in such register as a burden affecting such land,
	or
	(b) (i) a person, registered in a register of freeholders as full owner of land, is dead, and
	(ii) such land is registered subject to equities, and
	(iii) the person who is the personal representative (whether his name is or is not entered in such register as full owner subject to an inhibition) of such deceased person, in his capacity as personal representative charges such land in favour of the Corporation with the repayment of a principal sum not exceeding ten thousand pounds and any interest, and
	(iv) such charge is duly registered in such register as a burden affecting such land,
	or
	(c) (i) a person is registered in a register of freeholders as limited owner of land, and
	(ii) such land is registered subject to equities, and
	(iii) such person or the assignee of the limited estate of such person and the person or all the persons entitled to such land for an estate or estates in remainder or in expectancy after or in defeasance of the estate of such first-mentioned person join in charging such land in favour of the Corporation with payment of a principal sum not exceeding ten thousand pounds and any interest, and
	(iv) such charge is duly registered in such register as a burden affecting such...